Financial implication of Coronavirus

Not been mentioned too much at the moment with the spreading concern about it's health implications, but for anyone who doesn't have the luxury of a final salary pension and relies on the performance of their defined contribution personal pension plan, the state of the financial markets is a serious long term worry now. At the start of Feb, the FTSE100 was sat at 7439. It is now 5237. Down 30% in a matter of weeks and it is now lower than it was 20 years ago.

I hope my pension providers brokers are damned good at timing their buying and selling. I am dreading my next pension statement. It could take years to make these losses up and could have major implications for a long time on people's retirement plans.

 

Get out if jail card for Johnson though. Any economic measures his govt does or doesn't do, it will all be down to the Corona virus.

 

My retirement age has gone back 6 years already. It could be 15 by the time we’re finished.

 

The markets hate uncertainty. Once it all settles down, they will recover.

I'm not saying this to make it political in the slightest.

My worry is that with the uncertainty of Brexit, investors will be reluctant to put money back in. They may have waited out Brexit, but if they've now taken their money out due to this, my worry is that they will just go elsewhere to invest in the future.

I could be wrong. I hope I am.

 

I’m retiring age 109 as things stand

 

Look on the bright side.

Not many people have a letter from the queen on their desk for 9 years

 

I’m going to die at work, I made peace with that knowledge quite a few years ago, successive governments have seen to that.

 

Isnt it a good time to invest? I deal a lot in shares mainly the main banks after losing a lot in mining, lve an investment going through next week for two banks that have had 50% knocked off them in the last month - it will bring my averages down massively. Do we expect them never to recover? Banking shares havent got back to the pre-financial crisis pricing but I'd expect them to recover from this in time.

 

I share your concern. My pension pot is losing so much money I've had to stop checking it in order to preserve whatever sanity I have left. Sit tight and hope for the best seems to be the only way forward.

 

FFS This is not a time for petty politics!

 

I've stopped looking at my share portfolio and pension forecast - it is far too depressing. The markets will stabilise and shares will recover but it is going to be a very turbelent period.

 

To be fair I don't think the government can do much to influence the market at the minute - every major stock market across the world has bombed and they all influence each other. Shares are volatile at the best of times but right now we have a perfect storm with Coronavirus uncertainty the Russians and Saudi fall out over oil contributing to the collapse.

 

Not being petty at all.

 

is that South African Party Politics?